Litecoin market update: LTC/USD sends massive bullish signals under $130


  • Litecoin stays in the green with 1.18% gains in the last 24 hours amid declining crypto prices.
  • LTC/USD consolidates the gains between $125 and $130.
  • Litecoin is among the best performing cryptocurrencies this week having extended the

gains above $120 and event touched highs just above $130 yesterday. LTC/USD took advantage of Bitcoin jump to $8,100 and forged a sole path while breaking key barriers.

Although Bitcoin has since trimmed the gains touching lows around $7,735, Litecoin has been able to sustain gains above $125 support. At press time, the fifth largest digital asset is consolidating the gains in a tight range between $125 - $130.

Litecoin is still poised for more gains as the price stays above the moving averages with the 50 SMA playing catchup at $122.37. The increasing gap between the 50 SMA and the longer term 100 SMA shows that the bulls have the energy to push the price above $130 level in the near-term.

In the meantime, technicals are positive and likely to stay the same unless something drastic happens. The RSI is ranging horizontally at $60.00 to show that the price path of least resistance is upward sideways. This trend is also emphasized by the MACD, which is sitting comfortably above the mean line in the positive region precisely at +1.61654.

LTC/USD 1-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Crypto levels to watch after weekend consolidation

Major cryptocurrencies trade in relatively tight ranges this weekend. NY financial regulator gives green light to Bakkt to offer Bitcoin futures. Confluence Detector shows Ethereum sits above multiple strong support levels.

More Bitcoin News

NEO is in talks to integrate Celer Network to improve scalability

As industry-focused news outlet Crypto Briefing reported on Aug. 17, John Wang, NEO’s director of Eco Growth, said that integration with Celer is under discussion. Celer’s platform is a solution that enables faster off-chain transactions both for payments ...

More NEO News

US lawmakers to visit Switzerland to discuss crypto, Facebook’s Libra

A delegation of the United States House of Representatives will visit Switzerland on cryptocurrency concerns, with Facebook’s not-yet-released stablecoin Libra being in the focus. Six-member delegation from the House Financial ...

More Cryptocurrencies News

Ethereum: ETH/USD bear trapped below broken support range

Ethereum defended the support at $170 before a shallow recovery pulled the price above $180. ETH/USD must reclaim position in the broken support range between $190 - $200.

More Ethereum News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast

BTC

ETH

XRP